IL&FS sells environment business; to pare Rs 1,200 crore of debt
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IL&FS sells environment business; to pare Rs 1,200 crore of debt
PTI / Updated: Apr 7, 2021, 19:38 IST
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MUMBAI: Debt-laden Infrastructure Leasing and Financial Services (IL&FS) on Wednesday said it has sold its entire stake in IL&FS Environmental Infrastructure & Services (IEISL) and its subsidiaries to EverEnviro Resource Management Private (EverEnviro).
This sale will reduce IL&FS s overall debt by Rs 1,200 crore, which is the combined debt of entities under the group s environment businesses, a release said.
IL&FS, as the promoter shareholder of IEISL, held 97.54 per cent of equity shares of IEISL. The balance 2.46 per cent was held by IL&FS Employee Welfare Trust.